MASON(SZ:002654) Ju Chao Zi Xun·2025-08-13 01:30Core Viewpoint - Wanrun Technology has filed a lawsuit against six defendants for failing to fulfill their performance compensation obligations, claiming approximately 158 million yuan in unpaid compensation related to a 2019 performance commitment agreement [1][2]. Group 1: Legal Action and Financial Implications - The lawsuit was filed in Shenzhen Intermediate People's Court, seeking enforcement of the 2019 performance commitment agreement [1]. - The defendants were required to ensure that Shenzhen Rishang Optoelectronics Co., Ltd. achieved a cumulative net profit of no less than 170 million yuan from 2019 to 2024, but only 12.2459 million yuan has been realized, representing 7.2% of the commitment [1]. - Wanrun Technology has recognized a performance compensation of 41.4275 million yuan based on received cash and the fair value of pledged stocks, but the remaining 158 million yuan has not been accounted for in the 2025 financial statements due to uncertainty in performance fulfillment [1]. Group 2: Industry Context and Market Analysis - Shenzhen Rishang Optoelectronics primarily engages in the LED lighting business, and the performance shortfall is attributed to intensified industry competition [2]. - The use of performance-based clauses in mergers and acquisitions is a common risk control measure, but significant underperformance can lead to compensation disputes and impact the financial statements of the acquiring company [2]. - The progress and outcome of this case are of interest to investors, as it may affect the financial health and reporting of Wanrun Technology [2].